Senate Passes Small Business Jobs Act

The Senate approved legislation on Thursday that would provide $12 billion in tax breaks to small businesses, along with a $30 billion lending fund.

Two Republicans, George Voinovich of Ohio and George LeMieux of Florida, crossed party lines to vote for the bill, which passed by a 61 to 38 margin. The bill will now go to the House, which is expected to pass it quickly. An earlier version passed in the House in June by a wide margin.